Helping you find an ideal workspace

real estate

One of the common problems faced by most of the growing start-ups is finding an ideal office space for their budget. As and when the business starts to grow, you will have to add more number of employees to meet the requirements of your clients, which means you have to expand your office to accommodate more employees. Of course, there are lots of office spaces available in the market out there, but the budget might be a constraint for you as you are now a growing company. But here are a few ways that might help you reduce the costs on your office space.

Consider Suburbs: Probably the cool factor is the thing that is attracting the entrepreneurs to expensive downtown office spaces even when there’s no business case for it. Of course, location plays an important role for some business, but there are some businesses for which location is not a matter. If yours is one such business, consider going for a space which is in suburbs. Employees also love such areas as the traffic will be less. You can easily find a space at an affordable cost in such areas.

Transform Your Current Space: When the team size is growing and you want to expand the office, hire a professional interior designer who can offer new insights to the existing workplace. A professional designer can bring in whole new light to your office and also help you in expanding the space by altering the furniture and other things to accommodate more employees. So, you don’t have to spend on a new office building to accommodate your employees.

Prefer Longer Lease: A stable tenant will often be a best friend for the landlord. I.e. the landlords will be ready to offer great discounts for the tenants who make agreement for a long term. This allows the company to acquire a larger space than it actually needs without increasing its immediate overhead.

Find a Sub-lessee: Rent space more than you actually require and sublease the extra space to another company (with the approval of landlord). This would really help in reducing your burden of paying the rent at least to some extent. Also you will have access to the extra space whenever you need it, but you don’t have to pay for it.

Choose an Open Floor Plan: Many global organizations these days are opting for open floor design as they know the benefits it’s got to offer. It’s definitely beneficial when compared to the normal cubicle designed offices. You can just take off the drywalls around, and can use more square footage when you need extra space to accommodate more employees.

The above mentioned points can be of a great help for you when your business is growing, and you are looking for an office space at an affordable budget to accommodate more number of employees. Just plan well and move ahead while deciding to move on to a new office space.

For most of the corporate employees today, workplace has almost become their second home that they spend more time than they do anywhere else. Like the employees themselves say, it’s a home away from their home! So, how should an office space be for the employees? It should at least be place that they don’t get sick of being there for long time.

So, how would you keep your employees excited when they are at the workplace? By squandering your money on opulent stuffs to add elegance and enrich the beauty? Of course, it works; it keeps your employees lively and productive. But what’s been the concern for most of the employers is the huge capital that slips out of their hands in the knock of beautifying their office space. So, here are a few simple and cost effective ways through which you can make your office look splendid.

Play with COLOURS

As we all know, colour is something that creates a strong impact on our moods and it plays a great role in changing the moods of your employees. You don’t have to spend lots and lots in order to make your office space interesting and productive for your employees. Just play with colours. Add the splash of colours to your office interiors and make it attractive.

This is a great and easiest way that you can enhance the beauty of your office space; identify the colours that can have a psychological impact on your employees. It doesn’t let them get bored as it keeps them involved with what they do.

Furniture doesn’t just mean the cubicle and the desk; it also means the chair your employees sit on and the cupboards they use to keep their stuff. Choose the most attractive furniture that complements the colour of your office interior. May it be the chair, the desk or any other things used by employees; choose them consciously and wisely to make it look attractive. If your furniture is adding up to the décor of your office space, you don’t have to spend much on enhancing the beauty of it.

Make it clutter-free

Yet another easy and important way to enhance the beauty of your office space is to remove the clutter. Assume yourself in an office filled with piles of documents and heaps of files, will you be able to keep your calmness and sustain the productivity level? Not at all! Clearing the clutter makes the office space look spacious while also adding the clean and professional look to the space, which adds up to the moods of employees.

These are the simplest and cost effective ways to make your office space a place of pleasure for your employees. Consider your ability to make changes on your office space, and make it attractive and enjoyable for your employees. If you think you don’t have enough room to make these changes, you will have to think of moving on to a furnished office space that already has all the above mentioned features. After all, keeping employees happy and lively at the workplace is what matters.

A top city in India has large office space transactions place is Bangalore. An office space absorption witness to more leasing activity is Bangalore with limited supply in India. Bangalore is one preferred location for entrepreneurs to start up business in India and remains the top corporate office destination in India.

To know more about office space demands in Bangalore.Please visits the below presentation:

Once you have chosen your options for office space and you like them, the next step is to acquire the best deal possible. But at times knowing what to bargain is peculiarly complicated. Landlords may be worried to congest empty spaces, but they are also keen to make up for the money and except you are not cautious, that negotiation lease you sign now can be filled with hidden charges, rising fees and clauses that knock down when you would least anticipate it.

Obtaining great deals on office space is a blend of market timing, and good tenant planning.

The real estate office market has strike a tipping point. With increasing vacancies and new sublease opportunities coming to market daily, when it comes to renting an office space it’s the tenants market. Rental rates are falling and will continue to do so. Landlords and Business centers are providing huge concessions to new tenants, but you won’t get the finest deal except for you know what to request. Smart business leaders know this as a suitable time to leverage their tenancy and take benefit from the market conditions. To take advantage of current market conditions business managers must bear in mind the following important success factors:

What is the Optimum Price?

When moving closer to the negotiating table, the peculiar tenant who’s doing this for the first time is most centered on obtaining the monthly rent as low as possible. This is the most frequent mistake tenants commit when a broker is not representing them. The correct way to scrutinize a deal is to consider its total value (i.e. annual value, taxes, lease period, free rental period and other charges). That’s the way landlords evaluate deals, and that’s what you should also do.

When to Initiate this Process?

Start the process early. This offers negotiating leverage and wiggle room. Initiate at least a year months before your lease ending date. Exploring the options can take 3 months, negotiating a lease can take 2 months, and if there is building new developments at another location can take 3 months or more. Set aside a generous amount of extra time for unforeseen delays in the leasing process.

Don’t Give a Hint

In no way give your landlord the feeling that their space is the only one that works for your company. Always create numerous feasible leasing options. Obtain proposals from each. Don’t grant a positive suggestion to any landlord until you have a fully executed new lease or lease renewal document with you.

Do your Groundwork

Always employ a tenant cost comparison spreadsheet. This spreadsheet comprises pricing of the potential offices you have chosen. Make the landlords completely aware of the fact that you will be directly weighing and comparing their lease suggestions with a tailored Excel spreadsheet. Put in the main factors from your different lease proposals. Make use of the resulting bottom line cost comparison as your major negotiating lever with each landlord to bring down the price of the competing sites. While making use of a tenant cost assessment spreadsheet, make sure that the landlord at each leasing option is offering you all the key cost factors you require. If it is clear that any landlord is delaying cost comparison details, just remove that property from the catalog of competing options.

Put in key factors on base rent increases, tax and operating escalations, and other cost areas that increase over time.

Use the cost comparison keenly in your negotiations to eradicate, lessen or limit the landlord profit centers

Obtain a Representative

Before starting the process, think about engaging an office tenant representative broker. If you are proficient in your business, you are most likely not a skilled in the profitable real estate office leasing business. Market dynamics change each day. An expert office lease negotiator is much better prepared to influence the market to the tenant’s fiscal advantage. Wait for each prospective landlord to be an expert office lease negotiator, controlling the office leasing market to the landlord’s economic advantage. If you settle on to employ a tenant representative, think about choosing one from an exclusive tenant rep commercial real estate firm. There are a lot of firms in the commercial real estate industry who stand for both landlords and tenants. This practice is observed by many tenants as a main clash.

Inquire your office tenant representative broker about economic details on current office leasing transactions in your local office market. The more deal your tenant rep broker has to reference, the more efficient he or she will be in influencing the local office market. Appoint your own commercial real estate architect to confirm the accurateness of the affirmed usable square footage of the office space.

Speak to other office tenants frankly regarding a potential landlord’s reputation in the areas of office building management and fair dealing.

The office space absorption in India stood at 35 million square feet in 2015, which is the second highest absorption rate after 2011. While the vacancy in PAN-India stands at 16%, it’s just 8-9% that’s being supplied to the corporate occupiers.

The major cities like Bengaluru, Pune, Chennai and Hyderabad have a vacancy rate for office space is just 5-10%, and they are prompting the need for fresh supply to meet the growing demands. Though, the land and construction costs are rising each day, rents have not reached a point where developers can get an IRR (Internal Rate of Return) of about 20%. This has been a main reason for developers moving away from commercial projects.

Residential Real Estate

Though the year 2015 didn’t bring up the expected growth in residential real estate, the bad days seems to have vanished. The sales have picked up in a few major cities like Mumbai, Bengaluru and Hyderabad. The initiatives taken by developers like offering attractive schemes and deal terms along with the lowered interest rates seem to have engaged the fence-sitters. The signs look encouraging; so the year 2016 seems to put an end to the difficult journey of the sector.

Retail Real Estate

The year hardly saw major happenings in the retail real estate sector. However, two big trends were noticed.

Consolidation of retail real estates by retailers and brands that focussed on the profit making stores closing down the loss causing ones.

Entry of institutional investors; this would make the single brand retail companies undertake ecommerce business independently.

More and more mature investors are expected to come and buy built-up real estate spaces in 2016.

Manufacturing and Warehousing

The year did nothing except putting a solid foundation for the manufacturing sector to get going in 2016. Under the Make in India programme, the states can come up with their own strategies, schemes and policies, which would help them in fuelling the industrial growth. The warehousing sector seem to be reaching an inflection point and it’s sure to take a huge leap forward once the Goods and Service Tax (GST) is rolled out.

The real estate industry is getting matured each day; until 2014, the industry was highly inefficient, fragmented and unregulated. Though 2016 is expected to bring in some positive changes in the industry, the experts still feel that the industry still remains fragmented and moderately inefficient in 2016 as well! Only the growth in Indian economy can bring some favourable reflections in the real estate sector.